DUBLIN–(BUSINESS WIRE)–The “Aircraft Seating Market by Class (Business, First, Premium Economy, and Economy), End Use (OEM, Aftermarket, and MRO), Aircraft Type (NBA, WBA, RTA and Business Jets), Materials, Components and Region – Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The global aircraft seating market size is projected to grow from USD 6.3 billion in 2022 to USD 8.7 billion by 2027, at a CAGR of 6.8% from 2022 to 2027.
Increasing number of premium economy seats
Major airlines are increasing the number of premium economy seats in aircraft owing to their increasing popularity as an alternative to first class and business class seats. The premium economy class has been designed as a class between the first and business class to bridge the gap between the sardine style economy experience and the opulence of the business class. It offers wider seats, more legroom and finer dining and is made for travellers who are unable to afford business class.
The premium economy class is major attraction for passengers as it is less expensive than business class and more comfortable than economy class. This has increased the rate of air travel as passengers wish to fly in comfort at the minimum cost. Thus, air traffic will increase, which will demand more aircraft and subsequently a greater number of aircraft seats.
Major airlines offer some level of premium service; Qatar Airways (Qatar), Ethihad (UAE), and Emirates (UAE). However, Emirates has announced a new premium class to be rolled out by December 2022. On the other hand, Singapore Airlines had initially wiped out first class Cabins until October 2021 and later resumed the services from March 2022 along with newly added premium economy seats. These changes reflect a shift in trends that place business as the new first class and the premium economy as the new business class.
Based on end use, the OEM segment of the aircraft seating market accounts for the highest CAGR during the forecast period
Based on end use, The OEM segment is expected to be projected to have the highest CAGR for the aircraft seating market during the forecast period. The OEM segment in the aircraft seating market growth is attributed to the increase in number of aircraft deliveries and increasing restructuring of aircraft seats by airlines to increase the seat capacity.
Based on Region, the North American segment of the aircraft seating market is projected to have the largest market share in 2022.
Based on the region, the North American region of the aircraft seating market is projected to grow at a rate of 7.3%. The presence of major OEM players in this region is driving the market. Major aircraft seating OEM manufacturing companies of North America, including HAECO (Hong Kong), Collins Aerospace (US), Adient Aerospace (US).
Based on Aircraft Type: The Narrow Body Aircraft is the fastest-growing segment of the aircraft seating market.
Based on aircraft type, the narrow body aircraft segment is projected to be the fastest growing segment of the aircraft seating. The increase in passenger traffic creates demand for economy seats in narrow body aircraft.
Major players operating in the aircraft seating market are Safran (France), Collins Aerospace (US), Geven S.p.A. (Italy), RECARO Aircraft Seating (Germany), and HAECO (Hong Kong).
- Growing Demand for Seats Installed with Ifec Systems
- Increasing Number of Premium Economy Seats
- Maintenance & Retrofitting of Existing Aircraft
- Shortage of Profitable Airlines in Emerging Economies
- Stringent Regulatory Norms and Product Certification Procedure
- Rise of Low-Cost Airlines
- Growing Urban Air Mobility Platforms
- Regulations to Install 16G Seats in All Aircraft
- High Installation Cost of Ifec Systems
- Acro Aircraft Seating
- Adient Aerospace
- Afi Klm E&M
- Airgo Design
- Collins Aerospace
- Geven S.P.A.
- Iacobucci Hf Aerospace
- Inseat Solutions
- Intech Aerospace
- Ipeco Holdings Ltd.
- Jamco Corporation
- Jpa Design
- Lufthansa Technik
- Mac Interiors
- Mirus Aircraft Seating
- Molon Labe Seating
- Optimares S.P.A.
- Pac Seating Systems
- Pitch Aircraft Seating Systems
- Recaro Aircraft Seating
- Stelia Aerospace
- Thompson Aero Seating Limited
- Tsi Seats
- Zim Aircraft Seating
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